Dubai businessman robbed of Dh3.7 million in Bitcoin scam

Dubai: A gang has been sentenced to three years in jail by the Dubai Court of First Instance for stealing Dh3.7 million from a businessman who was trying to buy Bitcoins.

According to official records, the two defendants will be deported after serving their jail term. They are liable to pay the fine of Dh3.7 million too.

The businessman told Dubai Police he was scammed by the first defendant who lured him to a villa to buy cryptocurrency, before attacking him with others, who are still at large, and stealing Dh3 million and two watches worth Dh750,000.

“I found a card on my car about sale of Bitcoins at a rate that was cheaper than the market rate. I called the number on the card and made a deal with them to buy cryptocurrency. They asked me to come to a villa in Al Barsha with the money,” said the businessman in official records.

He went inside the villa and the money was being counted when three other defendants raided the place wearing PPE and masks, posing as policemen from his home country.

“I was told that they will take me back to my country. They tied my hands, covered my eyes and took me to a car after stealing the money,” said the victim in records.

He managed to escape and reported the incident to Dubai Police.

The two defendants were arrested and charged with abduction and stealing the victim’s money.

The verdict will be subject to appeal within 15 days.